Hon. Kayode Fasae, the Commissioner for Wealth Creation and Employment, has announced the launch of a guided Agency Banking Programme in Ekiti State aimed at empowering unemployed youths and expanding financial services accessibility.
The state government's initiative comes in response to the increasing withdrawal of banks from various areas in Ekiti, leaving residents with limited access to banking facilities due to security concerns arising from frequent bank robberies.
In preparation for the programme, the Ministry of Wealth Creation and Employment has divided the state into 132 units to facilitate its implementation. The initiative aims to establish agency banking services in all 177 wards across the state, leveraging partnerships with banks such as Wema, Stanbic IBTC, and First City Monument Bank (FCMB).
During an inter-ministerial meeting with relevant government agencies, Commissioner Fasae outlined plans to engage over 1,000 youths as commission agents and 200 as sole agents to facilitate the programme's success and promote job creation.
Agency banking, as described by Hon. Fasae, involves the use of authorised agents to deliver financial services to customers residing in remote areas without access to traditional banking facilities.
Prospective beneficiaries are required to form cluster groups before participating in the programme, ensuring effective coordination and community engagement.
Additionally, the government plans to collect data on unemployed youths, market women, artisans, motorcycle riders, persons with disabilities, and other citizens aged 18 to 50. Each participant will receive a unique means of identification, enabling easy communication regarding job opportunities and empowerment initiatives.
The Agency Banking Programme represents a proactive step towards enhancing financial inclusion and economic empowerment in Ekiti State, reaffirming the government's commitment to addressing socio-economic challenges and fostering inclusive growth.
Through collaborative efforts between government agencies, financial institutions, and local communities, the programme aims to create sustainable opportunities for youth employment and economic development, ultimately contributing to the prosperity of the state and its residents.
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